Peter J. Kelly - Dec 8, 2023 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
Chief Executive Officer, Director
Signature
Charles S. Coleman as Attorney-In-Fact
Stock symbol
KAR
Transactions as of
Dec 8, 2023
Transactions value $
-$13,982
Form type
4
Date filed
12/12/2023, 06:29 PM
Previous filing
May 11, 2023
Next filing
Feb 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +975 +0.31% $0.00 314K Dec 8, 2023 Direct F1, F2
transaction KAR Common Stock Tax liability -$14K -975 -0.31% $14.34 313K Dec 8, 2023 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction KAR Restricted Stock Units Options Exercise $0 -975 -0.98% $0.00 99K Dec 8, 2023 Common Stock 975 Direct F1, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld to satisfy FICA taxes due in the year the reporting person reaches retirement eligibility. Each remaining restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
F2 Includes shares acquired pursuant to the Company's Employee Stock Purchase Plan.
F3 Shares withheld to satisfy FICA taxes due in the year the reporting person reaches retirement eligibility.
F4 Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
F5 These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: 49,025 of these restricted stock units vest on May 9, 2024 and the remaining 50,000 of these restricted stock units vest on May 9, 2025, assuming continued employment through the applicable vesting date.